Cheap Apartments for Rent in the Kilowatt Lake Neighborhood of Memphis, TN from $300 (55 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Kilowatt Lake area of Memphis.

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Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

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Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

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Watkins Manor
1 to 3 Bedroom Apartments

Watkins Manor

2643 N Watkins StMemphis, TN 38127
  • Utilities Included
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2238 Howell Ave
1 to 2 Bedroom Apartments

2238 Howell Ave

2238 Howell AveMemphis, TN 38108
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2086 Hubert Ave
2 Bedroom Apartments

2086 Hubert Ave

2086 Hubert AveMemphis, TN 38108

Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

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669-677 Harrell St
Studio to 1 Bedroom Apartments

669-677 Harrell St

669-677 Harrell StMemphis, TN 38112

Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.

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property at 528 E Pkwy N

$900

Total Monthly Price

Total Monthly Price

Base Rent
$900
Total Monthly Price
$900

2 Bedroom, 2 Bath Home for Rent

Available Now

528 E Pkwy N, Unit 9

528 E Pkwy N
MemphisTN38112

The Local Memphis Expert's Guide to Renting Near the City's Top Employers

Memphis apartment guide from a local expert, breaking down neighborhoods, average rent, and ideal commute times near the 5 largest employers - FedEx, St. Jude, U of M, Methodist, and AutoZone.

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Kilowatt Lake, Memphis, TN Local Guide

Cheapest Available Kilowatt Lake Apartments for Rent

 

The cheapest available apartment rental in the Kilowatt Lake area of Memphis, TN is a 2 Beds unit found at University Gardens Manor priced from $659. 1716 DuPont Ave has the second lowest priced unit, which is a 2 Beds apartment currently listed from $850. Here are the most affordable Kilowatt Lake apartments for rent in Memphis, TN:

Apartment ListingModel NameBed/BathPriced From
University Gardens Manor2x1 Classic2BR,1BA$659
1716 DuPont Ave2 Bed 1 Bed2BR,1BA$850
Kings Reserve MemphisBelvedere1BR,1BA$950
The Galloway @ Evergreen2 Beds, 1 bath2BR,1BA$1,095
Parcels at ConcourseCrafton 1Studio,1BA$1,418

Best Value Apartments for Rent in Kilowatt Lake, TN

As of June 02, 2026 the best value apartment in the Kilowatt Lake area is the $1.19 price per square foot Gold Unit Model at University Gardens Manor in the in the East Memphis neighborhood starting from $920. The second greatest value Kilowatt Lake apartment is the 1534 N Parkway Model at 1534 N Parkway, Unit 1 starting at $1,400 with a $1.87 price per square foot in the Midtown Memphis neighborhood. Here is today’s list of the best values for Kilowatt Lake apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
University Gardens ManorGold Unit2BR,1BA$1.19
1534 N Parkway, Unit 11534 N Parkway1BR,1BA$1.87
Kings Reserve MemphisBelvedere1BR,1BA$1.58
The Galloway @ Evergreen2 Beds, 1 bath2BR,1BA$1.83
Parcels at ConcourseCrafton 2Studio ,1BA$2.73
1716 DuPont Ave2 Bed 1 Bed2BR,1BA$1.48

College Life in Memphis: Affordable Neighborhoods Where Students Rent and Thrive

Where do Memphis students actually live? Our local expert reveals the best affordable neighborhoods to rent near U of M, Rhodes, and CBU. Get local tips & save on rent!

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Don't Settle: How to Negotiate Your Apartment Lease and Save Money

Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.

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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

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How much rent can you afford?

The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.

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Pet Friendly Lifestyle
Kilowatt Lake, Memphis, TN

Ranked #77

Among cities in Tennessee for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

2.5
Pet Friendly

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Frequently Asked Questions about Cheap Kilowatt Lake Apartments

What is the price of a cheap apartment in Kilowatt Lake?

The cheapest apartment in Kilowatt Lake is University Gardens Manor which is listed at $659, while the average apartment in Kilowatt Lake costs $1,325.

What types of apartments are the cheapest in Kilowatt Lake?

Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 68 regular apartments in Kilowatt Lake that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

How do the prices of cheap apartments compare to the average apartment in Kilowatt Lake?

Cheap apartments in Kilowatt Lake have an average cost of $543 which is $782 cheaper than the average rent for all rentals in Kilowatt Lake.

Expert Rental Resources

The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.

Helpful Local Expert Guides

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Affordable Memphis: The Best Lower Priced Neighborhoods with Character

Written by: Joshua Carlucci

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College Life in Memphis: Affordable Neighborhoods Where Students Really Live and Thrive

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The Local Memphis Experts Guide to Renting Near the Citys Top Employers

Written by: Joshua Carlucci

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Neighborhood and Market Insights: How to Choose the Right Area to Rent

Written by: Robin Stewart

Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.

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A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back

Written by: Lauren Harrington

I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.

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Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

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What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.